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A staggering 41 percent of US households now purchase vegan milk, according to market data company IRI.
According to the organizations, the sector is now worth around $5 billion in the US, with plant-milk the biggest category, surpassing $2 billion and accounting for 40 percent of the total plant-based food market.
Plant-milk sales growth
Despite being the biggest category within the plant-based sector, non-dairy milk still saw dollar sales growth of five percent in 2019. By comparison, cow’s milk sales were flat.
Within the category, almond milk is the leader, making up 65 percent of dollar sales.
The fastest-growing alternative milk is oat – which saw dollar sales skyrocket by a staggering 686 percent in 2019.
‘Shifting consumer values’
Caroline Bushnell, the associate director of corporate engagement for The Good Food Institute, says that shifting consumer values have ‘created a favorable market for plant-based foods’, which have ‘significantly outpaced overall grocery sales increases for three years running’.
Describing plant-based foods as ‘a growth engine for both manufacturers and retailers’, she added: “This is really only the beginning: plant-based foods will continue to expand rapidly across the store in response to demand as consumers increasingly switch to foods that match their changing values and desire for more sustainable options. We expect further acceleration in 2020.”